One embodiment provides a rear portion structure of a saddle-ride type vehicle. The structure includes: seat frames inclined rearward and upward and supporting a riding seat; and a rear cowl having an upper cowl and a lower cowl. The upper cowl includes: a first cowl; and a second cowl which is connected to the first cowl and forms an opening upper edge portion of an opening for exposing a tail light. The lower cowl includes: a third cowl; and a fourth cowl which is connected to the third cowl and forms an opening lower edge portion of the opening. An approximately-U-shaped recessed portion is opened at a rear end of the third cowl. The fourth cowl forms the opening lower edge portion while covering the U-shaped recessed portion.